1. At what interest rate will an investment grow elevenfold in 18 years?
2. What sum should you deposit into an account to yield 20 year end payments, starting with 10,000 at the end of the first year and increasing 3% each year at an interest rate of 6% compounded monthly?
3. A sinking fund is set up to replace a $225,000 piece of equipment in 10 years. Calculate the annual sinking fund payment for an interest rate of 4.25%.